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Mortgage calculator

Q: What does PITI mean?

Principal, interest, taxes and insurance: the four parts of a typical monthly mortgage payment. Lenders use PITI to judge affordability.

Q: How much down payment avoids PMI?

On a conventional loan, putting at least 20% down usually avoids private mortgage insurance. FHA loans have their own mortgage insurance rules.

Q: Is this an official quote?

No. It is an estimate. Your lender's Loan Estimate will show your exact rate, fees and escrow amounts.

Estimate your full monthly house payment, not just principal and interest. Add property tax, homeowners insurance, PMI and HOA dues to see what you will really pay each month, then scroll the amortization schedule to see how each payment splits between interest and principal over time.

Enter your numbersDefaults are realistic examples; replace them with yours.
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Check the assumptionsSee exactly how we calculate, below.

Home price ($)Down payment ($)Interest rate (% APR)Loan term (years)Property tax (% of price / yr)Home insurance ($ / yr)PMI (% of loan / yr, if <20% down)HOA ($ / month)

Year-by-year schedule

Totals per year.

How we calculate

M = P · r(1+r)^n / ((1+r)^n − 1) where P = loan amount, r = APR/12, n = months

PMI is applied only when the down payment is under 20% and is shown for the full term (in reality it can usually be removed at 78–80% loan-to-value).
Property tax and insurance are spread evenly across 12 months.
Fixed-rate loan; no extra payments.

Understanding your results

Principal and interest stay fixed for the life of a fixed-rate loan; taxes and insurance usually rise over time. Early payments are mostly interest, which is why the schedule shows a slow start to building equity.